Iranian expats investment fund gets nod

TEHRAN, Aug. 2 (MNA) – Iran Securities and Exchange Organization has issued the permit for setting up the first investment fund for Iranian expatriates.

The idea of opening this fund first came up last year in a specialized economic and commercial working group and the Organization for Investment, Economic and Technical Assistance of Iran was given a mandate by President Mahmoud Ahmadinejad to provide the necessary regulations.

 The board of trustees of the fund consists of 5 real persons and the founders comprise 19 legal entities.

 The value of each share in the fund is 1,000 euros. The minimum and the maximum investment amounts are 100,000 and 500,000 shares, respectively.

 The currency used in the fund is the euro and investors are supported by the Organization for Investment, Economic and Technical Assistance of Iran.

 Iran’s central bank said in June it will guarantee foreign investors a return of 10 percent on their capital.

 Central Bank Governor Mahmoud Bahmani said the policy is aimed at attracting investments during a time of economic crisis in many parts of the world.

 "Iran will pay a guaranteed 10 percent interest on foreign investment ... the central bank and ministry of economy will guarantee the return of the principal and profit," he added.

 According to Press TV, the 2025 Outlook Plan of Iran has set an investment target of $3.7 trillion within two decades, of which $1.3 trillion should be in the form of foreign investment.




News Code 41106

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